Check below answers in case you are looking for other related questions:

Calculation of Zakah

Mu' meneen Brothers and Sisters,

As Salaam Aleikum wa Rahmatullahi wa Barakatuh.  (May Allah's Peace, Mercy and Blessings be upon all of you)

 

One of our brothers/sisters has asked this question:

Assalamalaykum Burhan Bhai.
I appreciate
ur efforts and hope that we all take this opportunity to learn something very good from you. I want to know how much i should have paid last year as my zakaat.
I had a balance of 400,000 Rs on the first day of Ramadhan.My wife and my three duaghters in law has approximately 60 Tollas of gold.we do not have any property with an intension for resale.Our Monthly Income is around 100,000 Rs..Can u please tell me how much i should have paid as zakaat

 

(There may be some grammatical and spelling errors in the above statement. The forum does not change anything from questions, comments and statements received from our readers for circulation in confidentiality.)

 

Answer:

 

Calculation of Zakah

In the name of Allah, We praise Him, seek His help and ask for His forgiveness. Whoever Allah guides none can misguide, and whoever He allows to fall astray, none can guide them aright. We bear witness that there is no one (no idol, no person, no grave, no prophet, no imam, no dai, nobody!) worthy of worship but Allah Alone, and we bear witness that Muhammad(saws) is His slave-servant and the seal of His Messengers.

 

‘Zakaah’ is obligatory on every individual who, after all his living expenses, has a net saving of about 85 grams of gold or approximately US$1,000.00, and this amount has been in his possession for a full calendar year.

 

The monthly or yearly income of one is immaterial in the calculation of ‘zakaah’ dues, as these dues are based on the net savings or net worth of a person, after having paid for his full living expenses.

 

Thus, lets assume one had Rs. 400,000.00 in his possession for a full calendar year + 60 tolas or approximately 700 grams of gold, value of which would be about $8,200.00 (or Indian Rupees 500,000.00) again in his possession for one full calendar year; then the ‘zakaah’ due would be 2.5% of INR 900,000.00 or INR 22,500.00. One may pay this amount in ‘zakaah’ in one lump sum, or even in installments over the period of the year.

 

Whatever written of Truth and benefit is only due to Allah’s Assistance and Guidance, and whatever of error is of me. Allah Alone Knows Best and He is the Only Source of Strength.

 

Your Brother in Islam,

 

 

Burhan

 


Related Answers:

Recommended answers for you: